President Joe Biden has extended the student loan pause once again in hopes of tending to the needs of the people and economic consequences from the COVID-19 pandemic, according to the U.S. Department of Education. While there are signs that the pandemic is leading towards endemicity, per Dr. Stephen Parodi, a member of AMA, there are still pending issues that society needs to address from the COVID pandemic fallout.
To date, the total United Sates student loan debt stands at $1.749 trillion, and the debt traditionally grows six times quicker in a year compared to that of our nation’s economy. However, in 2021, this total debt for student loans had decreased for the very first time in our country’s history.
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MFJS Reporter Spring 2022 